The Spanish residential real estate market has impressively rebounded after the 2008 recession and, more recently, from the COVID-19 health crisis. Current data, however, suggest that the golden era the sector experienced during the pandemic's recovery might be coming to an end. Although a dramatic drop in transactions is not anticipated for the second half of 2023, the outlook has nuances.
Various circumstances and factors play into this scenario. According to analysts from the Appraisal Society, the shortage of supply, especially in the new construction segment, will continue to put upward pressure on prices until the end of the year. Added to this is the solvent profile of the current buyer, which acts as a bulwark against potential negative effects that may arise due to the increased cost of financing from rising interest rates.
This dynamic is particularly evident in cities like Madrid and Barcelona and Valencia, which act as "attraction poles" for the population. The demand in these cities outpaces supply, even though they account for a significant 16% of the country's new housing production. The trend is clear: Spain needs to build more homes. The data is compelling: currently, six times fewer homes are being built than 15 years ago.
Furthermore, construction costs have risen significantly, 8% in the last year, and almost 27% since the months preceding the pandemic outbreak. Despite this increase in costs, the impact on the sale price is gradual. However, for protected housing, the effect is more direct, as many price caps have not been revised since 2008, particularly affecting housing promoted by private entities.
The solution, according to experts like Consuelo Villanueva, lies in increasing supply, with a particular focus on protected housing. Currently, this type of housing only accounts for 10% of the residential properties being built, a figure significantly lower compared to other times.
Regarding the used housing market, which constitutes the bulk of transactions, it is expected to experience a more significant drop compared to new housing. However, prices continue to rise, albeit at a slower pace.
In conclusion, the Spanish real estate market faces multiple challenges and opportunities. Despite the rise in interest rates and other economic concerns, the sector shows resilience, largely backed by sustained demand and a buyer with a strong financial profile. However, addressing supply and demand challenges will be essential to ensure the market's long-term stability.
The real estate market in Spain has faced challenges with a significant slowdown in 2023. This negative trend could raise doubts among property owners and investors: Is now the right time to sell? What will be the future value of my property in areas like Teulada Moraira?
The national slowdown is real, but not all areas are affected in the same way. Some regions, even amidst this downturn, show unique promise. This is where Teulada Moraira stands out:
While other areas show declines, the Marina Alta has experienced an impressive 87% increase in housing construction.
Moraira and its surroundings have recorded consistent increases in price per m2, contrasting the national trend.
However, areas like Moravit-Cap Blanc and Pinar de Advocat-Cometa have shown decreases. Is this a warning sign or a hidden opportunity?
The outlook for property owners in Teulada Moraira is clear:
Strong Housing Construction: The significant growth in housing construction indicates sustained demand.
Rising Housing Prices: The consistent increase in price per m2 reflects an active and demanded market, especially in areas like the Urban Center.
Windows of Opportunity: Areas with price decreases present a golden opportunity for visionary investors.
Don't let the general trends divert you from the real potential of your property. If you own property in Teulada Moraira, you are in a privileged position. Now is the perfect time to capitalize on the growth and interest in the region.
Do you want an accurate and fair valuation of your property? Don't remain in doubt, contact us now! We can help you understand the real value of your property in this dynamic market.
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At Marti Projects, your property has the value it deserves! Call us today!
Without a doubt, the best way to sell a property in the Valencian Community is through a registered agency. The profession of real estate agent is not regulated in Spain, meaning anyone can dedicate themselves to it. However, to successfully sell your property, it is essential to put yourself in the hands of experts.
What is a registered agency? To choose a professional real estate agency, you must pay attention to several aspects. One of the most important is that, like ours, it is registered in the new Registry of Real Estate Intermediation Agents of the Valencian Community.
This is a database created after the approval of Decree 98/2022 of July 29, which came into force on August 16, 2022. This regulation governs this list and the companies that can register on it. Therefore, the agencies listed in this database are supervised and controlled by the Valencian authorities.
There are many advantages to selling your property this way. In fact, the regulation not only requires real estate agencies to subscribe to this registry, but also to meet several requirements to do so. Among the most important are the following:
Justify that their professionals are qualified to practice the profession. This can be done with the title of Real Estate Agent or by attending training courses in the subject of at least 500 hours duration.
Have a establishment open to the public. If it only provides services online, it must have a physical address within the Valencian Community.
Have a financial guarantee or a bond insurance that protects its clients against possible deviations of money. The amount of these contracts will be 60,000 euros for each office open to the public.
Have a civil liability insurance that covers possible negligence of its employees. It must be valid throughout the European Union and have an amount of 600,000 euros with a sub-limit of 150,000 per victim. You may wonder how to know if a real estate agency is listed in this registry. It's very easy. All those listed have received a badge to make it visible to the public. It is a red card on which the name of the vice-counselor in charge of housing and the words "Registre d'Agents d'Intermediació Inmobiliària de la Comunitat Valenciana" appear in Valencian.
How does it benefit you to sell your property with a registered agency? The real estate entities listed in this registry have amply demonstrated our professionalism and rigor in carrying out our work. In addition to having qualified professionals and all the mentioned insurances, we are subject to a sanction system in case we make a mistake, even if we do not comply with the requirements that the Valencian Community has imposed on us to appear in this database.
For all the reasons we have explained, any natural or legal person who wants to work regularly in the real estate sector in Valencia, Castellón and Alicante must be in this registry. This guarantees you will receive professional and maximum guaranteed service in the process of selling your property.
More advantages offered by a registered real estate agency The real estate agencies listed in this database offer several advantages. Among them, we can highlight the following:
Professionalism and transparency. Certified agents have extensive experience in our work and we do it seriously. We offer legal guarantees.
Personalized treatment, legal advice and drafting of all documents.
We carry out all the procedures with the utmost transparency. If you want to sell a property in the Valencian Community, count on professionals in the sector like Martí Projects. We will be delighted to guide and assist you throughout the process. Contact us now +34 638 042 482 / firstname.lastname@example.org. We will be happy to help you.